I have yet to witness such an extreme bulltrap in BTC's history. If you can find me something similar please show it to me. If we're currently at the top of Wave B the final wave down is going to be like watching a horror movie. You've been warned.
Shittiest descending triangle of all time and -38 % correction soon? We had a false breakout recently at roughly 34k and my hope for super bullish move is kinda gone now. I still don't think I wanna take any trade here, too risky for my taste.
Most traders are shorting this and think exchanges will allow them to profit all the way down to 20k region. All those ppl that didn't have balls to short 60k with me are now opening shorts with confidence.
On the flip side there are still many bulls bragging "I'm still up 200 %, I'm still up 100 %" and not believing in my "ridiculous bottom targets".
If you extrapolate 65k to the baseline it's roughly 53 %. This will take us down to 14k. I could be wrong and this is only a sideways action before the elevator down, but I'm not a fan of trading setups that look too easy. Imo they're making it look boring and not exciting on purpose so the bears get too relaxed and then surprise them with some kind of scamwick or...
Everything is on the chart. All the shillers, youtubers were saying "as long as we are above 20 weekly MA" we're still in the bull market. Now that we're below it no one talks about it anymore. Isn't that interesting?
So far so good.
Some features in the bars seems to play out inverted, when comparing it against the old print.
I have a Longdong position ( 25X ) from 34.3 still going, that I don't intend to sell any time soon.
I also opened a new long from 45.7 ( 25X ).